Goods are scarce because
a. of greed; if human beings were not so selfish, goods would not be scarce.
b. the desire for goods is far greater than their availability from nature.
c. of competition; if people were not so competitive, it would be possible to satisfy people's
desire for material goods.
d. of private property; if things were not owned privately, scar
b. the desire for goods is far greater than their availability from nature.
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Economic growth can be pictured in a production possibilities curve diagram by
A) shifting the production possibilities curve in. B) shifting the production possibilities curve out. C) making the production possibilities curve straighter. D) moving from a point inside the production possibilities curve to a point on the curve.
Economic games can be used to analyze decisions around which of the following situations?
A. War B. Business C. Environmental protection D. All of these situations.
The existence of inflation and other possible uncertainties reduces the usefulness of money as a store of value
a. True b. False Indicate whether the statement is true or false
A black market is a market in which
A) goods are traded at prices above their legal maximum prices. B) sales taxes are effectively doubled. C) goods are sold at outlet prices. D) sales take place exclusively at outlet prices.